GST : 10 POINT SERIES ON SUPPLY
By: – Puneet Agrawal
Goods and Services Tax – GST
Dated:- 2-11-2016<\/p>\n
* In the GST Regime, tax whether CGST, SGST or IGST is chargeable only when there is a supply of goods and\/ or services. Thus it is imperative to understand the meaning of the term “supply”.
\n * Meaning and scope of “supply” is defined in Section 3 of the Central Goods and Services Tax Act\/ State Goods and Services Tax Act.
\n * Meaning of Supply is defined in an inclusive manner that means the transaction which are covers within the definition are only illustrative.
\n * As per the definition, “supply” includes all forms of supply of goods and\/ or services such as: Sale, transfer, barter, exchange, license, rental, lease, dispo<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n e Section 3(1)(c) read with Schedule 1, following transactions even without consideration are covered within the four corners of “supply”: = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" GST : 10 POINT SERIES ON SUPPLYBy: – Puneet AgrawalGoods and Services Tax – GSTDated:- 2-11-2016 * In the GST Regime, tax whether CGST, SGST or IGST is chargeable only when there is a supply of goods and\/ or services. Thus it is imperative to understand the meaning of the term “supply”. * Meaning and … Continue reading “GST : 10 POINT SERIES ON SUPPLY”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1706","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/1706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1706"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/1706\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\n * Permanent transfer\/ disposal of business asset;
\n * Temporary application of business asset to a private or non-business use: Example Use of Car owned by Business for personal travel.
\n * Services put to private or non-business use – Example where a CA prepares his own tax return
\n * Supply of goods and\/ or services by a taxable person to another person in the course of furtherance of business – this is a very dangerous inclusion as this implies below.
\n All transactions that are made by a taxable person to another person in the course of furtherance of business even when made without consideration a<\/p>\n
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